I have selected the option for payouts every business day but my payouts take 9-10 days to payout. My stick is selling out and as a small business I need to reinvest my money earned quick so I can keep things in stock! Does anyone know why I’m not getting my payouts daily?!
Hey, [email removed]Caddycaps!
I’d love to help you with your payout question. To give you some context, Shopify Payments payouts are subject to pay periods. While you can set your payout to be sent every business day, it doesn’t mean it will be sent on the next business day from when a customer places an order. Payouts are sent to your bank the next business day following the pay period. The pay period varies and is specific to the country you are located in. You may refer to this page to find out what your pay period is.
Once the payout is sent, you’ll notice that it may not appear in your bank statement immediately. Besides the pay period, bank processing times need to be accounted for and the time frame is dependent on the bank. You may reach out to them for clarification on this.
I understand the desire and need to receive the payouts immediately, so I thought I’d suggest looking into PayPal to transact your payments. This may be a more suitable payment gateway for your business as PayPal payouts typically arrive in your account immediately. While PayPal is a good alternative or supplemental payment gateway in your store, please take note the fees involved in transacting payments through PayPal are different from Shopify Payments fees. To learn more about PayPal fees and help you determine whether it’s a good choice to switch or activate PayPal, you can refer to our blog post about PayPal fees here.
Hi! I am currently in the same situation as OP, and I am curious why even offer “Daily” if that is not an option? For example: I recieved a payout on Thursday, so I would then expect a payout on Friday for my sales on friday, but that says it isn’t scheduled for another 9 days after that. Am I to believe then that “Daily” actually translates to “every 10 days”? I previously used Square and I received my payouts directly to my bank at the end of every single business day for 3 years. I just switched and this is a hard pill to swallow.
Has this changed for you? IM just starting and I cannot wait a week for funds